Importance of Planning within the Business Environment

Importance of Planning within the Business Environment The objective of this assignment is to show the understanding of the business environment and management in construction and property. To achieve this, two core elements associated with management will be examined and compared with an existing construction company such as Wilmot Dixon, which is struggling with the current economical climate. This study will discuss the implementation of planning using innovative management strategies and tools required to assist companies to be better positioned for sustainable growth. Defining the Business Environment According to Palmer Hartley (2006) the business environment can be defined as everything which surrounds a system. For example, if we take a business as the core of a working system, there are surrounding influences which contribute to the workings of this system within the macro environment. For a business it can be difficult to identify what the elements are within the environment. We can demonstrate important factors relating to the business environment using the PESTEL model as illustrated in Figure 1.0 Businesses survive by turning inputs into goods and services which customers in the environment want to purchase. The current climate suggests we are still in a down turn market. With reference to Wilmott (2011) in an exclusive interview, he suggests that 2011 will be an extremely tough year due to the soaring costs associated with the supply chain and materials. Another politically associated topic is the increase in VAT. According to the Federation of Master Builders (2011), increasing VAT from 17.5% to 20% could lead to over 11,000 job losses in the construction industry over the next decade. Such an increase may deter many businesses from starting new projects and where projects are starting, contractors are not breaking even. An example of this can be related to Willmot Dixon, a primary tier contractor where they have forecast a slowdown in the property market. According to Willmot (2011) Firms are pricing below cost because they are talking themselves into believing the market price for materials and supply chain will continue to fall so then they can recover the difference. A fundamental issue with companies facing such a troublesome year would be to implement a business management plan looking to read the environment and understand how the business system will evolve in the future. Such a strategic move would involve essential planning. Planning 3.1 The purpose of planning Essentially, the purpose of planning is to contemplate future actions whether this is economic, political or environmental. According to Brews Purahit (2007), as business conditions become additionally unstable, companies tend to adapt a planning strategy. Change in the business environment creates uncertainty. It enables companies and people to adapt by establishing goals and objectives and sets out how to achieve them by implementing a business plan. With reference to figure 1.1, the initial approach would be to identify the purpose of planning, identifying the companys current position in the market and identify where they want to be. Once this has been established it will offer a clearer direction to employees. This will enhance motivate to increase control by allowing people to measure their progress against set targets and allow the company to use its resources efficiently. With reference to one of Wilmot Dixons senior partners, Willmot (2011) announced one of the companies key objectives due to the politically associated development of re-furbishing un-occupied housing Willmot Dixon is diversifying into new areas such as private residential and mixed-use regeneration development. We can associate this back to the PESTEL model where we can look at the political issues and demographics of the current economy. A major issue is that there is a shortage of housing with an ever increasing population. The government is looking to r e-furbish un-occupied properties scattered around the UK and put these properties back to council housing, an area Willmot Dixon has proposed to target. 3.2 Contents of planning Companies expanding in business or are looking to adapt to change in the business environment, prepare a business plan. According to Mckeever (2010), a business plan is a document that sets out the markets the business intends to serve. There are different plans which a business will decide upon, for example: A strategic plan sets out the overall direction for the business. It is broad in scope and covers all the companies major activities. A strategic business unit consists of a number of closely related products, which is meaningful to formulate a separate strategy. An operational plan details how the overall objectives are to be achieved, by specifying what is expected from senior management experts from specific departments or functions. Annual plans are common amongst most companies focusing on finance and setting budgets for the coming year. What is common in all business plans is focusing on the direction of the business in short and long term planning. Key aspects of planning include the strategy of the company and the development of the business to enhance profit. A planning hierarchy can be seen in figure 1.2, showing how the characteristics of plans changes at each level. According to Mathews (2011), a government plan to cut the cost of public construction projects by a fifth, through standardising buildings, was published alongside the recent Budget. With the property market having been so affluent and now with the market and the country progressively slipping into further recession, it would seem that more construction companies would be looking to plan long term, using a more strategic option rather than plan for the short term. 3.3 The Process of planning The process of planning relates to how plans are produced for a business or organisation to succeed. According to Jennings (2000), companies change their approach to planning as conditions change. There are seven iterative tasks which can be performed when making a plan as shown in figure 1.3. Figure 1.3 Seven iterative tasks in planning. Any plan depends on gathering information. Reverting back to the PESTEL model is good practice when sourcing information such as market trends, formal analysis of the political and legal factors, current economy, socio cultural factors, technology and issues relating to the environment. Whether the company is a centralised company where the decisions are taken at the centre of the company, or a decentralised company, where the decision-making is delegated to lower levels of management, within the organisation casual encounters with colleagues is a major influence in gathering information. Once all of the information has been accumulated a mission statement can be compiled showing the organisations direction and overall goal in the construction market. It will guide decision making and should inspire and motivate the workforce to accomplish the desired result. As a result of the mission statement, a SWOT analysis can be used to evaluate the company in the current economic climate. Conducting a SWOT analysis as defined in figure 1.4 will enable companies such as Willmot Dixon to define their key strengths and weaknesses. Completing a SWOT analysis integrates the external opportunities and threats, as example, according to Lowery (2011), the economy is shaping to be a tough year for the construction sector. VAT increases and higher employer National Insurance contributions combine with government spending cuts to spell a year of contraction. Articles such as this are a means of monitoring progress externally as well as internally. By evaluating how the economy will effect an organisation and by completing a SWOT analysis, allows companies to set their goals and objectives . Goals and objectives give focus to a task such as what will be achieved and when. Setting goals is difficult for companies as they have to look beyond their present status and predict how their role as a business will fit in with the changing economy. The criteria for assessing goals is to be realistic and this can be achieved using the SMART acronym. Specific: Does the goal set specific targets? Measurable: Goals can be defined precisely enough to measure progress towards them. Attainable: Goals should be challenging but not unreasonable. (Goal setting theory suggests the motivational consequences of goal setting. Rewarded: People see that attaining a goal will bring reward. Timed: Does the goal specify the time over which it will be achieved, to a reasonable and acceptable standard. Goals and objectives provide the reference point for other decisions within the management plan, formulating the criteria against which performance can be measured. Creating a set of goals and objectives will direct a company to identify what actions and resources are necessary in order to accomplish the set goals and objectives. This will identify what needs to be done, who will do it and communicate this information to the relevant personnel. With reference to Lynch (2005) specifies that managers handle this aspect of planning in 3 ways: Comprehensively: where managers decide to make a clear cut change in direction. They assume that success depends on driving the changes rapidly and in a coordinated way across the company that implies a comprehensive business plan, Incremental or directional plan: where areas of the business plan are uncertain such as a volatile market, or where the company is depending on the outcome of research. Important strategic areas may be left deliberately unclear until the outcomes of current events have been established (Lynch, 2005, Page 633), or the third way, selective planning when neither of the other two methods are the best way forward and managers implement major change only in some areas of the business plan. Plans will vary for different companies, as an example, Grant (2003), gives an insight into the way mangers can develop strategy. For instance his study in 6 major oil companies used a clear planning process as detailed in figure 1.3. The details varied between companies but all shared the common components. Figure 1.3 The generic strategic planning cycle Source: Based on Grant (2003) Once a plan has been formulated the objectives and actions of the plan needs to be communicated to managers and employees. In larger organisations this can incur time and effort but is carried out to ensure: Everyone understands the plan Allow time to resolve any issues, confusion or ambiguity Communicate judgements and assumptions that underline the plan Ensure the plan is instigated and activities are organised in practice and on paper. 3.4 Outcomes of planning However good a business plan is, unless it is implemented nothing normally happens. To ensure the plan is instigated, progress needs to be monitored. This can be monitored in a number of different ways such as, output and profit or by completing goals and objectives. By constantly evaluating the progress or the company and monitoring the results, objectives and targets can be changed to suit the business if for example there is change in legislation. This is why gathering knowledge and using a fundamental element such as the PESTEL model is a continual cycle to ensure sustainable growth. Conclusion Business plans will vary in every company, but the major elements will always remain consistent. In order to survive the current economic climate it is time for business to make significant changes. It is essential for companies to gather information that is to date with legislation, politics, technology etc and all the elements associated with the PESTEL model. This will enable companies to alter the business plan to constantly evolve with the market trend. The construction industry, according to many major companies and societies, is still in recession and with a new government introducing legislation involving tax increases and spending cuts, construction companies need to rethink their current strategies. Willmot Dixon, as an example, is looking to diversify into different areas of property development, with consistent work sprouting from maintenance and refurbishment work. Examples like this can demonstrate positive management thinking that will be the flagship for other smaller companies to follow. Bibliography Robson W., (1997). Strategic Management Information Systems. 2nd Ed. Great Britain: Pearson Education Limited. Palmer, A and Hartley, B., (2006). The Business Environment. 5th Ed. Great Britain: McGraw-Hill Education Harris, F and McCaffer, R., (2006) Modern Construction Management 6th Ed. Great Britain: Blackwell Publishing Limited Broddy, D. and Paton, S., (2011)). Management An Introduction 5th Ed. England: Pearson Education Limited

The Battle of Passchendaele

The Battle of Passchendaele Officially known as the Third Battle of Ypres, Passchendaele became infamous not only for the scale of casualties, but also for the mud. It was a combination of the Environment, Tactics and Poor Leadership that lead to the AIF’s losing the battle of Passchendaele. On 9 October 1917, British divisions, with the AIF in support, attacked towards Passchendaele village in terrible conditions.In the mud and rain the effort proved futile but the high command thought that enough ground had been gained to order an assault on 12 October. The Germans were fully prepared for the incoming attack, launched across an eleven mile front, small gains of land was only achieved during the attack. Then in the early days of August, the area was saturated with the heaviest rain the region had seen in thirty years. The area in Flanders became effectively a swamp.The weather at the site of this battle was dreadful; it was all muddy and sticky, after it had poured for days o n end. It was because of the harsh weather that many of the AIF troops got trench foot. As this was happening, the AIF was losing a lot of men that died or could not fight again because of the wounds that they had obtained. Third Ypres was intended as Sir Douglas Haig's Allied forces breakthrough in Flanders in 1917.The AIF lost this battle because of the poor leadership that the officers showed during the battle because of the position they were put in by the Germans. Plumer advocated continuing the attack immediately into Passchendaele ridge, arguing that the morale of the German troops was, for the present at least, broken, and that this combined with a shortage of forces would virtually guarantee Allied capture of the ridge.Haig however disagreed, choosing not to go along with the plans that he had made for the AIF. It was a combination of the Environment, Tactics and Poor Leadership that lead to the AIF’s losing the battle of Passchendaele. In conclusion the battle of Pa sschendaele was a failed attempt by the AIF as they lost a lot more men then the Germans. I have talked about the tactics, morale and the leadership. These parts of the battle were the most interesting to my eye.

Top Tips of Political Essay Samples

Top Tips of Political Essay Samples What the In-Crowd Won't Tell You About Political Essay Samples A decent political essay isn't crafted overnight. If you think that you have produced a strong introduction, you've got to maintain that until the conclusion of your academic essay. Writing a sonnet or a brief one-act play is most likely not a fantastic idea. Below you can locate a political essay sample that can help you in your essay writing and provide you a notion of what a very good political essay should look like. A political essay ought to be organized in such a manner that it is going to be a thesis emphasizing a conceptual argument. To compose a politics essay is not a very challenging task. The shortage of knowledge on the best way to choose suitable essay topics renders an essay flawed from the very start. An academic essay always must be relevant. Always bear in mind your academic essay ought to be playful it must not bore your audience. It is also helpful to compose essays which are more interesting and informative. If you would like to make an academic essay that's both outstanding and relevant, always set the items that we've discussed above in mind. Top Choices of Political Essay Samples It's directed at normalizing relations between the distinct social groups as a way to figure out the objectives, forms and content of state activity. A Political system entails members that are active politically and can control and influence government activities in a specific country. Political parties are completely essential to democratic government. In democratic countries, they perform several important tasks. Usually, the political essays are primarily written in order to provide a thorough analysis of the practices employed by the politicians. As a result, since each current form of political arrangement has partial claim to justice and since correct forms have a tendency to degenerate in their respective incorrect forms, we should mix different kinds of political arrangements, so as to mitigate their flaws. There's one great issue though and that is that, as Aristotle recognises, there are lots of elements that will need to be thought about as a way to figure out the best kind of political arrangement for each specific city. The importance of having more literature on this subject can not ever be overemphasized. At our site, you will observe a wide group of step-to-step explanation for selecting a research subject in political science. On account of the large number of topics, it may lead to brain wreckage for a number of students. Finding one you're interested can make the entire process of research and writing considerably more enjoyable. 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The Minimum Wage During The Great Depression - 1229 Words

Since the beginning of minimum wage during the Great Depression, the discussion of the how much minimum wage should be has always been occurring. Currently there is a strong push for the minimum wage to be raised, especially as Americans compare the current American rate to other countries’ rates. The New York Times recently reported that unionized Danish fast-food workers are paid more than twice as much as the average fast-food worker in America, and the Danish workers also receive benefits and paid vacation (Salz par. 2). Salz in his article, â€Å"Invitation to a Dialogue: A Challenge to America,† begs America to change its minimum wage rate so as to better take care of Americans. What Salz fails to take into account is the context of the comparison of rates along with the purpose of minimum wage when it was created, the effects of raising the minimum wage, and looking at the costs involved. In Salz’s article he compares the pay of Danish workers to Amer ican workers. This is two different contexts which must be taken into account. One cannot merely compare the dollar amount of pay when the cost of living, workers skill level, and taxes must be taken into consideration. The cost of living is much higher in Europe, for example, than in America. Also, the Danish workers are unionized compared to non-unionized, fast-food workers in America, which begs the question of what are union costs and what is involved with being in a union. In Salz’s article, he assumesShow MoreRelatedMinimum Wage During The Great Depression1419 Words   |  6 PagesThe Minimum Wage Battle In the United States, the minimum wage was passed during the Great Depression in 1938 to protect the buying power of normal workers in a period in which the â€Å"unemployment rate was still a very high 19 percent† (Sklar, 2009, p. 1). Since that time, there has been significant debate about the controversial topic of raising the federal minimum wage. 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As a result, the economy would recover from the â€Å"Great Depression†

The Minimum Wage During The Great Depression - 1229 Words

Since the beginning of minimum wage during the Great Depression, the discussion of the how much minimum wage should be has always been occurring. Currently there is a strong push for the minimum wage to be raised, especially as Americans compare the current American rate to other countries’ rates. The New York Times recently reported that unionized Danish fast-food workers are paid more than twice as much as the average fast-food worker in America, and the Danish workers also receive benefits and paid vacation (Salz par. 2). Salz in his article, â€Å"Invitation to a Dialogue: A Challenge to America,† begs America to change its minimum wage rate so as to better take care of Americans. What Salz fails to take into account is the context of the comparison of rates along with the purpose of minimum wage when it was created, the effects of raising the minimum wage, and looking at the costs involved. In Salz’s article he compares the pay of Danish workers to Amer ican workers. This is two different contexts which must be taken into account. One cannot merely compare the dollar amount of pay when the cost of living, workers skill level, and taxes must be taken into consideration. The cost of living is much higher in Europe, for example, than in America. Also, the Danish workers are unionized compared to non-unionized, fast-food workers in America, which begs the question of what are union costs and what is involved with being in a union. In Salz’s article, he assumesShow MoreRelatedMinimum Wage During The Great Depression1419 Words   |  6 PagesThe Minimum Wage Battle In the United States, the minimum wage was passed during the Great Depression in 1938 to protect the buying power of normal workers in a period in which the â€Å"unemployment rate was still a very high 19 percent† (Sklar, 2009, p. 1). Since that time, there has been significant debate about the controversial topic of raising the federal minimum wage. The federal minimum wage law was created to eliminate unfair practices of sweat shops and manufacturing companies during this timeRead MoreIncrease Minimum Wage During The Great Depression1834 Words   |  8 PagesIncrease Minimum Wage After the Great Depression, President Franklin D. Roosevelt signed approximately 121 bills into law. One of these bills included the Fair Labor Standards Act of 1938 which would ban oppressive child labor, set the maximum workweek at 44 hours and finally, set the minimum hourly wage at 25 cents. President Roosevelt believed that it was the government’s duty to protect against â€Å"starvation wages and intolerable hours† (Grossman). Today, we still follow the principles that PresidentRead MoreEssay on Minimum Wage is The Bare Minimum1018 Words   |  5 PagesMinimum Wage: The Bare Minimum They work hard every day; they stock our store shelves, wash dishes at our restaurants, clean our offices at night, care for our kids during the day...They have in common the minimum wage. And they need a raise, and as you saw, they deserve a raise (Clinton). President Clinton made this speech on the south lawn of the White House at 10:30 a.m. on the 8th of March 2000. He argued for the minimum wage hike to go into effect. He argued for the populationRead More The Great Depression and Franklin D. Roosevelts New Deal Essay858 Words   |  4 PagesThe Great Depression and Franklin D. Roosevelts New Deal During the 1930s, America witnessed a breakdown of the Democratic and free enterprise system as the US fell into the worst depression in history. The economic depression that beset the United States and other countries was unique in its severity and its consequences. At the depth of the depression, in 1933, one American worker in every four was out of a job. The great industrial slump continued throughout the 1930s, shaking theRead MoreTaking Sides : Clashing Views Of United States History By Madaras, Larry And James Sorelle973 Words   |  4 Pageswhether the new deal prolonged the great depression. The great depression refers to an era in US history, which happened from 1929 to 1941 during president Franklin Delano Roosevelt era, and it made the US citizens face economic hard times. The great depression era had much overproduction, inequality in wealth distribution and over borrowing. Consequently, the president implemented the new deal with the aim of saving American citizens from the great depression. However, people had different feelingsRead More The Minimum Wage Should Be Eliminated Essay700 Words   |  3 PagesThe minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I dont think it worked then. It didnt solve any problems then and it hasnt solved any problems in 50 years. -- John Raese In the United States, the federal government maintains a national minimum wage to protect the purchasing power of ordinary workers. It seems good that the government protects your purchasing power by adjusting the minimum wage with respect to the inflation rate. ItsRead MoreThe Negative Effects Of The Minimum Wage1282 Words   |  6 PagesMinimum Wage Should the government raise minimum wage? Should the government lower or keep the current minimum wage? Minimum wage is a very controversial topic when it is discussed between all parties. For those arguing for minimum wage increase believe that it will bring people living below the poverty line above it. Former President Obama stated, â€Å" no one working forty hours deserves to be living in poverty.† For those arguing against the raise on minimum wage believe that it has more negativeRead MorePresident Fdr : A Nation s Economic Status Is A Great Responsibility That Its Government Has1259 Words   |  6 Pages2016 Resident President Keeping a country’s economic status is a great responsibility that its government has. In America during the 1930’s, the Great Depression spreads its economic disease to Americans, and as a result, many citizens become jobless and homeless. While Americans are under economic depression, little has been done by the government to ameliorate the situation. However, President FDR is the MVP during the Great Depression as he brings economic prosperity and well-being to America byRead MoreJohn Keynes And Friedrich Hayek901 Words   |  4 Pagesof the most influential economic minds of the 20th century. Each of these men’s ideas had a great impact on the economy of numerous countries and helped countries find economic success different times. Keynes and Hayek had opposite ideas on what created a working economy that would be successful and avoid economical depressions like that of the United States great depression and the European depressions that resulted from the two World Wars. Keynes believes that the best way to maintain a strongRead MoreHistory Repeats Itself, A Fight For Fair Wage1178 Words   |  5 Pageshigher wages. In the beginning of the NRA, Roosevelt promulgated a President’s Re-employment Agreement. Employers signed more than 2.3 million agreements, covering 16.3 million employees. Employers agreed to a 35-40 hour workweek, with a minimum wage of $12 to $15 per week. In turn, businesses who signed the agreement displayed a blue eagle over the motto â€Å"We do our part.† Therefore, Patriotic Americans would buy only from â€Å"Blue Eagle†. As a result, the economy would recover from the â€Å"Great Depression†